Matthew J. Murphy Purchases 13,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL) Stock

Marvell Technology, Inc. (NASDAQ:MRVL) CEO Matthew J. Murphy purchased 13,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were purchased at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the purchase, the chief executive officer now owns 221,915 shares in the company, valued at approximately $17,227,261.45. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $81.68 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.26. Marvell Technology, Inc. has a 1 year low of $46.07 and a 1 year high of $85.76. The firm has a market capitalization of $70.70 billion, a PE ratio of -72.28, a P/E/G ratio of 3.17 and a beta of 1.45. The business’s 50 day moving average price is $70.72 and its 200-day moving average price is $70.04.

Marvell Technology (NASDAQ:MRVL) last announced its earnings results on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, equities research analysts expect that Marvell Technology, Inc. will post 0.78 earnings per share for the current fiscal year.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is -21.24%.

Institutional Investors Weigh In On Marvell Technology

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Marvell Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 72,810,448 shares of the semiconductor company’s stock worth $5,160,805,000 after buying an additional 468,086 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Marvell Technology by 13.4% during the 1st quarter. Janus Henderson Group PLC now owns 13,478,472 shares of the semiconductor company’s stock worth $955,400,000 after acquiring an additional 1,591,874 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Marvell Technology by 17.6% in the second quarter. Van ECK Associates Corp now owns 5,901,773 shares of the semiconductor company’s stock valued at $412,533,000 after purchasing an additional 884,380 shares during the period. Finally, Clearbridge Investments LLC increased its position in Marvell Technology by 3.0% during the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MRVL shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Benchmark increased their price target on Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Evercore ISI boosted their price objective on Marvell Technology from $91.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Bank of America upped their target price on Marvell Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Rosenblatt Securities lifted their price target on Marvell Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.62.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.